Skills & Competencies for Pension Administrator

Pension Administrator job profile

Book a Demo and Receive a Sample Job Profile

JOB SUMMARY for Pension Administrator

Responsible for the administration of retirement plans.

JOB RESPONSIBILITIES for Pension Administrator

Maintains plan records and ensures compliance with federal regulations. Communicates with customers and assists with plan design and benefit distributions.

Pension Administrator SALARY RANGE

BASE 50%
$65,702
TOTAL 50%
$67,795
Job Level
P02
Job Code
FA06000574
Education/Degree
Bachelor's Degree
Reports To
Manager

Pension Administrator Skills and Competencies List

Proficiency Levels and Behavioural Indicators
Salary.com identifies five increasing levels of proficiency for each skill/competency. Some jobs require only a relatively low level of proficiency in each skill/competency, while other jobs will require a more advanced level of proficiency in the same skill/competency. These levels rate the degree of proficiency (skill level, expertise) we expect the incumbent to perform in the given skill/competency for the given job. Note that we intentionally do not associate timeframes or years of experience in performing the skill/competency because that can be misleading. Proficiency levels identify what the incumbent knows and can do rather than how long they have been doing it. Also, note that the proficiency levels are cumulative, e.g., a level 4 proficiency implies the ability to perform all the behaviors at the lower levels.
Check each Pension Administrator skill and competencie below to view definitions.
INDUSTRY COMPETENCIES JOB FAMILY COMPETENCIES CORE COMPETENCIES
BOOK A DEMO

6 hard skills or competencies (industry competencies) for Pension Administrator

1 Industry Competency – Insurance Industry
Proficiency Level -2
Skill definition-Applying knowledge of the insurance industry to provide risk management services and protection to various individuals from financial loss.
Level 1 Behaviors
(General Familiarity)
Describes the processes and rate standards for calculating the amount for insurance claims.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Gathers clients' financial information for the preparation of insurance contracts.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Performs thorough investigation and analysis of insurance claims to prevent fraudulent activities.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Leads the digitization and automation of insurance-related services to drive business transformation.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Develops loss control practices to reduce financial exposure and risks in insurance operations.
See 4 More Skill Behaviors
2 Industry Competency – Insurance Legal and Regulatory Environment
Proficiency Level -2
Skill definition-Creating, executing, and adhering to state and federal laws governing insurance operations to ensure financial security and consumer protection.
Level 1 Behaviors
(General Familiarity)
Describes the importance of compliance programs in maintaining an insurance legal and regulatory environment.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Documents compliance complaints to track and escalate possible legal violations and ensure prompt resolution.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Executes market conduct exams to verify the adherence of insurance operations to laws and regulations.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Reviews root causes of regulatory deficiencies to create corrective action plans and ensure adherence.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Develops an insurance regulatory framework to promote consumers' protection and achieve policy objectives.
See 4 More Skill Behaviors
3 Pension Administrator - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Pension Administrator
Proficiency Level - 4
5 Competency for - Pension Administrator
Proficiency Level - 5

3 general skills or competencies (Job family competencies) for Pension Administrator

1 Job Family Competencies – Customer Relations
Proficiency Level -2
Skill definition-Creating mutually beneficial relationships with customers to improve their overall experience.
Level 1 Behaviors
(General Familiarity)
Documents the best practices and techniques used in creating customer relations.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Collects customer feedback to measure customer satisfaction and ensure customer relations.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Ensures accurate and prompt responses to customer complaints to maintain optimal customer relations.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Determines key opportunities to build and maintain customer relationships and drive business results.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Champions the adoption of advanced systems and tools to improve the development of customer relations.
See 4 More Skill Behaviors
2 Job Family Competencies – Accounting
Proficiency Level -2
Skill definition-Creating financial statements and reports based on the summary of financial and business transactions.
Level 1 Behaviors
(General Familiarity)
Classifies and records payroll and related transactions in the accounting system.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Compiles periodic reports extracting required accounting information from records maintained.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Analyzes key data to solve complex issues in accounting, business finance, and management.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Develops solid relationships with cross-functional partners to keep the business ahead of emerging accounting issues.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Designs organizational structure of the Accounting Department.
See 4 More Skill Behaviors
3 Pension Administrator - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Pension Administrator
Proficiency Level - 4
5 Competency for - Pension Administrator
Proficiency Level - 5

7 soft skills or competencies (core competencies) for Pension Administrator

1 Core Competencies – Standard Operating Procedures (SOP)
Proficiency Level -2
Skill definition-A set of written instructions that describes the step-by-step activities to complete tasks in compliance with business standards and industry regulations.
Level 1 Behaviors
(General Familiarity)
Describes the purposes and benefits of Standard Operating Procedures (SOP).
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Compiles and maintains SOPs under our current policies and directions.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Ensures internal SOPs are in compliance with industry standards and regulations.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Develops and delivers training programs to ensure our SOPs are fully communicated and adhered to.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Champions the adoption of SOP to foster efficiency and consistency.
See 4 More Skill Behaviors
2 Core Competencies – Attention to Detail
Proficiency Level -2
Skill definition-Executing and completing a task with a high level of accuracy.
Level 1 Behaviors
(General Familiarity)
Explains why attention to detail plays an important role in own function or unit.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Performs assigned responsibilities according to standard procedures and standards.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Implements a variety of cross-checking approaches and mechanisms.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Demonstrates expertise in quality assurance tools, techniques, and standards.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Designs techniques for measuring the cost and impact of errors.
See 4 More Skill Behaviors
3 Pension Administrator - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Pension Administrator
Proficiency Level - 4
5 Competency for - Pension Administrator
Proficiency Level - 5

Summary of Pension Administrator skills and competencies

There are 6 hard skills for Pension Administrator, Insurance Industry, Insurance Legal and Regulatory Environment, Insurance Products, etc.
3 general skills for Pension Administrator, Customer Relations, Accounting, Retirement Programs.
7 soft skills for Pension Administrator, Standard Operating Procedures (SOP), Attention to Detail, Time Management, etc.
While the list totals 16 distinct skills, it's important to note that not all are required to be mastered to the same degree. Some skills may only need a basic understanding, whereas others demand a higher level of expertise.
For instance, as a Pension Administrator, he or she needs to be proficient in Standard Operating Procedures (SOP), be proficient in Attention to Detail, and be proficient in Time Management.

It's Easy to Get Started

Get the precision you need to assess, hire, and develop top talent with skills and competencies – see how with a personalized demo.